Market Size of Latin America Pumps Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.00 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Latin America Pumps Market Analysis
The Latin American pumps market is expected to register a CAGR of 5% during the forecast period. Increased expenditures in exploration and production operations by the region's oil and gas companies are expected to raise demand for pumps in the oil and gas sector. The growing amount of infrastructure modifications, such as modifying or installing new pipes, is expected to boost the market.
- Due to strict energy and environmental regulatory policies, the market is expected to grow during the forecast period. For instance, according to the International Energy Agency's 2014 policy, a motor-driven unit should ideally be designed to save 20-30% of energy.
- The growing number of construction projects for residential and commercial spaces in Latin America is a significant factor driving the need for pumps and supporting market growth. Apart from that, the increasing demand to supply water and enhance its pressure for various activities is predicted to increase the usage of pumps in multiple industries, including chemicals, metal production, marine, food and beverage, and others. In the long run, the growing demand from the industries indicated above would further drive the expansion of this market.
- Keeping in mind the dynamic requirement of the market, the manufacturers are also concentrating on introducing new products. However, new energy efficiency standards could demand manufacturers redesign pumps, which might be expensive and time-consuming, hindering market expansion.
- In 2020, the COVID-19 pandemic considerably affected the growth of the pumps market in Latin America, which halted operations and import-export activities. The market is predicted to grow modestly for the forecast period, with demand mostly coming from end-user industries, such as water and wastewater treatment and oil and gas.
Latin America Pumps Industry Segmentation
A pump is a device that lifts, transports, delivers, or compresses fluids or attenuates gases, often by suction, pressure or both. The study tracks the market based on the revenues generated through the sale of pumps by different vendors operating in the pump market.
The scope is limited to pumps classified into various types, such as Centrifugal Pumps, Submersible Pumps, Turbine Pumps, Reciprocating Pumps, Piston Pumps, Diaphragm Pumps, and Rotary Pumps, their usage across multiple industries, including Oil and Gas, Chemical Processing, Food and Beverage, Water and Wastewater, and Construction, and Country (Brazil, Mexico, and Rest of Latin America). The report also contains information related to various Latin American countries. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Type | |
Centrifugal Pumps | |
Submersible Pumps | |
Turbine Pumps | |
Reciprocating Pumps | |
Piston Pumps | |
Diaphragm Pumps | |
Rotary Pumps | |
Other Types |
By End-user Industry | |
Oil and Gas | |
Chemical Processing | |
Food and Beverage | |
Water and Wastewater | |
Construction | |
Other End-user Industries |
By Country | |
Brazil | |
Mexico | |
Rest of Latin America |
Latin America Pumps Market Size Summary
The Latin American pumps market is poised for growth, driven by increased investments in the oil and gas sector and infrastructure developments across the region. The demand for pumps is expected to rise due to the expansion of exploration and production activities by oil and gas companies, alongside the need for infrastructure modifications such as new pipe installations. The market is also influenced by stringent energy and environmental regulations, which encourage the adoption of energy-efficient pump designs. The construction of residential and commercial spaces further propels the market, as does the rising need for water supply and pressure enhancement across various industries, including chemicals, metal production, marine, and food and beverage sectors. Despite challenges posed by the COVID-19 pandemic, which temporarily disrupted operations and trade, the market is anticipated to recover and grow steadily, supported by demand from end-user industries like water and wastewater treatment.
The market landscape is characterized by a diverse range of players, including Baker Hughes Company, Ebara Corporation, ITT Inc., KSB SE & Co. KGaA, and others, who are actively introducing innovative products to meet dynamic market demands. The single-stage centrifugal pump segment is expected to see increased demand due to its reliability and low maintenance costs, particularly in applications requiring high flow and low to moderate total dynamic head. The oil and gas industry remains a critical sector for pump usage, with pumps being essential for various operations such as oil displacement, chemical transfers, and refinery processes. The ongoing transition towards low-sulfur fuels and infrastructure upgrades in refineries are likely to further drive pump demand. Notable product launches, such as Wilo's solar-powered pumps and Baker Hughes' expansion in Guyana, highlight the industry's focus on innovation and regional growth.
Latin America Pumps Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes Products and Services
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1.2.5 Intensity of Competitive Rivalry
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1.3 Supply Chain Analysis
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1.4 Government Policies And Regulations
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Centrifugal Pumps
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2.1.2 Submersible Pumps
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2.1.3 Turbine Pumps
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2.1.4 Reciprocating Pumps
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2.1.5 Piston Pumps
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2.1.6 Diaphragm Pumps
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2.1.7 Rotary Pumps
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2.1.8 Other Types
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2.2 By End-user Industry
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2.2.1 Oil and Gas
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2.2.2 Chemical Processing
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2.2.3 Food and Beverage
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2.2.4 Water and Wastewater
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2.2.5 Construction
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2.2.6 Other End-user Industries
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2.3 By Country
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2.3.1 Brazil
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2.3.2 Mexico
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2.3.3 Rest of Latin America
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Latin America Pumps Market Size FAQs
What is the current Latin America Pumps Market size?
The Latin America Pumps Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Latin America Pumps Market?
Baker Hughes Company, Wilo SE, Sulzer Ltd, Ebara Corporation and KSB SE & Co. KGaA are the major companies operating in the Latin America Pumps Market.